Parkside, Porto
- Properties From $366,000
- Tenure: Freehold
- Estimated Rental Return: 7%
- Completion: Q4 2023
- The Financial Times placed Porto at the top of the European Cities and Regions of the Future in 2023.
- Porto is a three-time winner of the European Best Destination Award which it obtained in 2012, 2014, and 2017.
- The cost of living and warm climate in Lisbon is luring entrepreneurs, digital nomads, and investors from around the world. Portugal also has one of the lowest crime rates in the world.
- Portugal has been one of the most attractive destinations for foreign investment in recent years, with US buyers investing billions of dollars. Portuguese real estate has one of the best price-to-rent ratios in Europe.
The Property
Located in Arca D´Água in Porto, this development comprises of one to four bedroom apartments with parking. The building will have common areas including: a co-working area, a rooftop lounge, themed entrance halls (Urban and Terrace), an area for a bicycle park, and a common laundry room. All interiors will be finished to a high standard. The apartments range in size from 233 to 440 square feet. The interior is being developed by a prestigious interior design firm, which will take advantage of the open space layout, promoting coexistence between the different areas, with two decoration options: Urban (irreverent) | Terrace (timeless).
– Long-term rental opportunity
– Roof top lounge
– Co-working areas
– High-standard specification
Why Portugal?
- 65 million visitors per year
- House Price Growth 13.1% (2022)
- Inward Migration 750,000 (2022)
Due to a tourism boom, demand continues to outstrip supply, leading to price increases in both the rental and sales sector. Forbes magazine recently voted Portugal as the number 1 place to retire, due to its low cost of living, fabulous way of life, and attractive tax benefits for foreign residents. 750,000 people made Portugal their new home last year. With a population of only 10.5 million, Portugal receives 65 million visitors per year. According to Portugal’s Institute of National Statistics in 2022, year-on-year price growth is 17.2%. Rental yield, on average, is among one of the highest in Europe. Porto’s popularity as a tourist destination has been growing rapidly, attracting visitors from all over the world. The city is known for its rich history, stunning architecture, vibrant culture, and renowned Port wine production. The increase in tourism has led to a surge in demand for short-term rental properties such as vacation rentals and Airbnb accommodations.
Est. Return
- Occupancy Rates: 71%*
- Est Revenue: $26,300*
- *Based on AirBnB data
Location
The Arca D’Água area is located in the city of Porto, Portugal. It is a residential neighborhood situated in the western part of the city. The area is known for its tranquil atmosphere, green spaces, and proximity to the Atlantic Ocean. One of the notable features of Arca D’Água is its proximity to Parque da Cidade (City Park), which is the largest urban park in Portugal. Spanning over 83 hectares, the park offers various recreational activities such as jogging trails, cycling paths, picnic areas, and sports facilities. It also has a lake where visitors can rent paddleboats or simply enjoy a leisurely stroll along its shores. In terms of infrastructure, Arca D’Água benefits from excellent transportation links. Several bus routes serve the area, connecting it to other parts of Porto. Additionally, there are nearby metro stations that provide convenient access to the city center and other neighborhoods. The Arca D’Água area also boasts a range of amenities within walking distance. Residents can find supermarkets, pharmacies, banks, restaurants, cafes, and shops in the vicinity.
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